To put this budget "cut" in perspective, suppose that the typical American family, earning $50,000 annually, plans this year to run a budget deficit proportionate to the deficit that Uncle Sam will run. Such a family would plan to spend $75,000. Now suppose that this family, seeking to signal its faux-commitment to financial prudence, promises spending cuts equal, in proportion to its budget, to the cuts announced today by Mr. Obama.
This family would declare - surely with much fanfare - that it will reduce its planned expenditures for the year by $2.08! Perhaps it might promise to survive the year with one less gallon of gasoline or with one less cup of coffee.
So, with the money I've saved on ice coffee because of Dunkin Donuts $.50 promotion, I've saved a higher proportion of my annual budget than President Obama proposes over the next 90 days. Slow down, Mr. President. I'm not sure we can absorb these massive cuts that quickly.
PS- I love $.50 Ice Coffee Day.
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